Post
Topic
Board Altcoin Discussion
Re: staking is a type of mining?
by
Jackl87
on 07/01/2022, 10:18:49 UTC
a crypto being on a stake it means that this crypto is mining others?

Staking basically means you use your coins to support the network (at least that is how it works when you stake via native wallets on your desktop, i am not sure if this is also true for tokens that you stake via one of those Defi pools). So yeah in the end it is a consensus mechanic just like proof of work. I think that proof of stake will become more and more popular now and in the next years because of environmental reasons. Tesla was already accepting bitcoin as a method of payment but then they had to take that decision back because of protests because bitcoin has to be mined and for that you need a lot of electricity.